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Beginning a year from now, Bernardo O Rielly will receive $ 2 0 , 0 0 0 a year from his pension fund. There will

Beginning a year from now, Bernardo ORielly will receive $20,000 a year from his pension fund. There will be 15 of these annual payments. Bernardo can invest his money at 6%. The company offers to replace the pension fund with a one-time immediate payment of $200,000. Should he take the offer? Explain.

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